Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 39,944 Shares of Stock

Key Points

• CEO John Treace purchased 39,944 TMCI shares at an average price of $4.44, investing approximately $177,351. Following the transaction, he owned 7.39 million shares, a 0.54% increase.
• Treace Medical Concepts reported quarterly revenue of $45.38 million and an adjusted loss of $0.24 per share, beating analyst estimates for both revenue and earnings.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $5.17; the stock recently traded near $4.37, while institutional investors owned 84.08% of shares.

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace bought 39,944 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $4.44 per share, for a total transaction of $177,351.36. Following the acquisition, the chief executive officer owned 7,388,383 shares of the company's stock, valued at $32,804,420.52. This represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Treace Medical Concepts Price Performance

NASDAQ TMCI traded up $0.03 on Monday, reaching $4.37. 330,428 shares of the stock traded hands, compared to its average volume of 741,496. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The company has a market cap of $284.20 million, a price-to-earnings ratio of -4.70 and a beta of 1.37. The firm's fifty day simple moving average is $4.35 and its 200 day simple moving average is $2.89. The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%.The business had revenue of $45.38 million during the quarter, compared to analyst estimates of $44.02 million. As a group, research analysts predict that Treace Medical Concepts, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMCI. Weiss Ratings downgraded shares of Treace Medical Concepts from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Truist Financial lifted their price target on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Finally, Wall Street Zen raised Treace Medical Concepts from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Treace Medical Concepts presently has a consensus rating of "Reduce" and an average price target of $5.17.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds have recently made changes to their positions in TMCI. Two Sigma Securities LLC purchased a new position in Treace Medical Concepts during the 2nd quarter worth approximately $47,000. Hsbc Holdings PLC boosted its position in shares of Treace Medical Concepts by 74.8% in the second quarter. Hsbc Holdings PLC now owns 54,170 shares of the company's stock worth $213,000 after buying an additional 23,176 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Treace Medical Concepts in the second quarter worth $106,000. Bank of America Corp DE purchased a new position in shares of Treace Medical Concepts during the second quarter valued at $13,154,000. Finally, Weber Capital Management LLC ADV acquired a new position in Treace Medical Concepts during the second quarter valued at $2,346,676,000. Hedge funds and other institutional investors own 84.08% of the company's stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company's flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.

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